In the first four months of the year, state budget revenues fell short by 13 million compared to projections. The state’s actual treasury deficit for this timeframe amounted to nine million, attributed to unfulfilled planned expenditures of 80 million euros.

This information is detailed in the budget report released by the Ministry of Finance.

Total state revenues for this period reached 897.5 million euros, while the intended collection was 910.5 million euros.

The most significant drop was seen in contributions for pension and disability insurance, where 99.8 million euros were collected instead of the planned 114.1 million euros, reflecting a 12.6 percent decrease from the Ministry’s estimates.

Furthermore, the Ministry projected 29.2 million euros in donations and transfers for this period, but only received 3.5 million, representing an 88 percent reduction.

Regarding the major state revenue source, VAT accrued 383.9 million euros, exceeding projections by 1.5 percent or 5.8 million euros. Corporate income tax generated 191 million euros, 2 million euros above expectations, while excise taxes contributed 104.7 million euros, which is 6.1 million euros more than planned.

“Analysing the structure of excise duties, we observe a substantial increase in revenues from excise duties on tobacco and tobacco products, which rose by 8.3 million or 29.7% at the period level. Specifically, in April alone, there was an increase of 4.6 million or 52.9%. These figures suggest a continued upward trend in the legal cigarette market,” stated the Ministry.

Budget expenditures totaled 906.5 million euros, compared to the Ministry’s planned amount of 986.2 million euros, resulting in a “savings” of 79.7 million euros. Had all planned obligations been fulfilled, the budget deficit would have stood at 89 million euros.

The largest “savings” were noted in the capital budget, where expenditures reached 43.2 million euros, a decline of 33.7 percent from the initial plan of 65.2 million euros for capital investments.

The state also “saved” 18 million euros by spending less on state institutions, the public, and non-governmental sectors than originally planned. The Ministry reported spending reductions of 8.1 million on service expenses, 6.6 million on gross salaries, 4.7 million on current maintenance, 3 million on material expenses, 2.5 million on redundancy payments, 2.2 million on subsidies, and 1.4 million on healthcare rights…

During this period, the state paid off old debts amounting to 586 million euros. When combined with the nine million deficit, 3.7 million in loans taken, and one million in expenditures for buying securities, the total shortfall in the state treasury reached 599.9 million euros.

This shortfall was offset by new borrowing of 869.9 million euros, with 276.9 million euros remaining in the treasury at the close of this period.

In the same period last year, the state treasury reflected a surplus of 54.9 million euros. The Pension and Disability Insurance Fund, which is part of the state budget, received contribution income of 99.8 million euros, while its expenses totaled 259.9 million euros, leading to a four-month deficit of 160 million euros.

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